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RETURN TO NORMALCY
Reform to big business
in addition to its pro - business stance , hardings administration was known primarly for his corruption exposed fuly after hardings death in office in 1923 how it was after ww1 b4 the great depression , the good times -
BUYING ON MARGIN
Margin means buying securities such as stocks , by using funds you borrow from broker
disposible income income remaining after decution of taxes and other mandatory charges .
Bank run sudden w/drawel of deposits of just #1bank
Bank failure large # 's of people anxious w/draw their deposits in cash forcing banks to liquidate loans and often leading to bank failure -
FRANKLIN D. ROOSEVELT
He defeated herbert hoover
gredtest problem facing americans was widespread unemployment
He promised the americas a new deal to start them back to work Also he inability to end great depression
only thing we have to fear is fear it self - he will address them with a condor -
STOCK MARKET CRASH
People could not sell their shares fast enough
Top bankers met that friday and bought stocks above current market prices to try to stop the rapid decline in prices
this action by bankers only dellayded the collapse by a few days -
GREAT DEPRESSION
One fourth of the labor face was out of work. hourly wages dropped by 50% hundreds of banks had failed . price for agricultural products dropped to their lowest level jmce the civil war.
the worst unemployment rate was in 1932 and it was 23.6% 13 to 15 million was unemployed
the government instituted a senes of experimental projects and programs ,know collectively as the "new deal " that almed to restore insperity to many americans
many were deprived of their homes or were evicted -
ROBERT TAFT
Robert Taft was a conservative american politican, statesman and presidention hopeful
taft was the senates main opponent of franklin roosevelt's new domestic policies called the "new deal'
he denounce the socialism trends of the new deal -
MIGRANB MOTHER
Her photographs of migrant workers homeless, women and children helped draw attention to the desperate conditions in rural america and helped to bring attention the need for direct relief (helped) -
WILLIAM RANDOLPH HEARST
Hearst's reputation suffred in the 1930 as his political views in changed in 1932
he was a major supporter of FDR his news papers through 1933
hearst broke with fdr in the spring of 1935 when president vetoed the pat man bonus bill -
20TH AMENDMENT
The causes was for lame duck sessions
lame duck session - of congress in the united states occurs whenere one pres. meets after is elected
what each amendment did it change where both president couldnt be inn the same building -
SEC
Sec was created to watch over the stock market , prevent fraud and guard against other stock market collapse
was roosevelts reform against the new deal -
FDIC
is the Federal deposit insurance coporation its an independent agency of the u.s. federal government that preserves public confidence in the banking system by insuring deposits.
President franklin roosevelt signed the banking act in 1933 a part which established FDIC
this was a part of roosevelts "reform legislation during the new deal -
THE GOLD STANDARD
Gold and silver where traded .
Use of the gold standard came to an end in 1933 when president Roosevelt issued an executive order outlawing the owner ship of gold, but Roosevelt wanted people to rely on paper money (fiat money) in order to expand the money supply and stimulate economic activity. -
TENNESSEE VALLEY
Built 21 government owned dams along the tn river
Controlled floods and produced electricity
Some feared it as a form of socialism -
21 ADMENDMENT
In 1933 , the 21st amendment to the constitution was passed and ratified ending national prohibition
After the repeal of the 18th amendment , some states continued prohibition ny maintaining statewide temperance laws -
FRANCIS TOWNSEND
Dr. francis was a physician who devised the townsend plan
the plan promised to end the great depression by opening up jobs for younger workers , while forcing seniors to spend money in the consumer economy
Adopted a version of the townsend plan when the social security program was created -
SOCIAL SECURITY ACT
1935 was probably the most important measure of the new deal.
it provided workers with unemployment insurance, old age pensions , and insurance if they died early, workers and their employers each paid new contributions to fund these benefits.
Rooselvelt put this in place with the New Deal as part of the 3Rs -
JUDICIAL PROCEDURES REFORM BILL
Rooselvelts intent was to add more justices to the supreme court also known as court packing
cause was to gain rulings vegardins the new deal using rooselvelt's court packins scheme
courts viewed it as unconstitunial b/c it would cause inefficiency and delays
americans viewed it as if it was to important to interfere with -
AAA
gave farmers government payment , tc grow farmer crops
smaller supply of crops would increased demand for those crops, this would help farmers earn money
its purpose was to improve and preserve national soil resources . also prevent it from eroding
long term effect was to help keep the pricing of crops stabilized -
NEW DEAL
Roosevelt pushed through legislation which is hard in less critical times.,All the important bills submitted in these 1st 100 days Roosevelt explained these new deal measures as the three r's relief ,recovery, reform change ,The new deal change the Gov, how since the new deal the gov has started to take care of us. it provides social security and medicare for older people, runs the FDIC to insure our banks deposits ,and lower taxes. -
DUST BOWL
Natural causes - droughts every so often, heavy winds
Human causes- tilling the great plain, cutting the grasses covering the top soil and tapping underground water supplies
Effects - money was tight, people lost there lands due to not being able to pay the bank crops did not grow in central am
Result - men became discouraged they abandoned their families women canned food and sewed clothes to support their families -
GRAPES OF WRATH
Oakies moving from oklahoma to california increased the average intelligence of both states, also meant scum route 66 is refered to the mother roact
they hopea to find jobs . once in california they find out jobs scare and wages are low. the exiles find repuge in weed patch camp -
HUEY LONG
Opposed the new deal because he believed that roosevelt plan to help the american economy after the great depresion not adequately help citizens living in poverty